Indiana Launches Veteran Business Acquisition Cohort
Pass the Guidon, a state-backed program, aims to prepare veterans to buy and run existing Indiana businesses as older owners retire.
Updated on Nov. 9, 2026 in Military Jobs
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Indiana Gov. Mike Braun announced Pass the Guidon, a veterans business acquisition cohort developed by VentureVets and powered by the Indiana Office of Entrepreneurship and Innovation. The program aims to prepare veterans and military-connected leaders to acquire, operate and grow existing Indiana businesses.
Why it matters
A March 2026 study commissioned by the Indiana Office of Entrepreneurship and Innovation estimates that 51.7% of business owners in the analyzed industries are at least 55 years old. Veterans' leadership experience could help preserve local jobs, services and economic activity as those owners retire.
An estimated 43,880 Indiana business owners aged 55 or older generate about $205.5 billion in annual private-sector revenue, per a March 2026 state-commissioned study. Only 5,338 of the state's 29,838 veteran-owned businesses had employees in 2022, and it is not yet known how many older-owned firms will change hands to veteran buyers.
The players
Mike Braun
Mike Braun is the Governor of Indiana, who announced the Pass the Guidon veterans business acquisition cohort as part of the state's economic development efforts.
VentureVets
VentureVets is an organization that supports veterans in entrepreneurship and business ownership, and it developed the Pass the Guidon program.
Indiana Office of Entrepreneurship and Innovation
The Indiana Office of Entrepreneurship and Innovation is a state office that supports startup and business growth, and it powers the Pass the Guidon program and commissioned the aging-owner study.
The details
Pass the Guidon will run a cohort curriculum covering how to find acquisition opportunities, evaluate financial records and contracts, navigate purchase agreements and explore franchise ownership. Participants will meet every other week with instruction from business brokers, bankers, attorneys and other acquisition professionals.
Timeline
March 2026: Study estimating aging Indiana business owners is published.
October 2026: Gov. Mike Braun announces Pass the Guidon.
Nov. 11, 2026: WE ARE ALL FOUNDERS Veterans Day celebration is held in Indianapolis.
Nov. 30, 2026: Application deadline for the first Pass the Guidon cohort.
January 2027: First Pass the Guidon cohort begins.
Market Landscape
The state study's finding that more than half of analyzed business owners are at least 55 years old frames Pass the Guidon as a succession response rather than a standalone training effort. The program positions veterans as a buyer pool for existing firms instead of only startup founders.
Veterans interested in buying an existing Indiana business can apply to the first Pass the Guidon cohort through Nov. 30. The program is free to participate in as an applicant pathway, and its curriculum covers evaluating financial records, contracts and purchase agreements.
The takeaway
Owners considering retirement and veterans seeking ownership may both find that acquiring an established business offers a path that skips the early startup risk. Reviewing financial records and purchase terms with professionals is central to the program's approach.
What happens next
Applications for the first Pass the Guidon cohort close Nov. 30, and the cohort begins in January 2027.
Further reading
Explore more on Military Jobs for Indiana business-ownership and veteran career pathways.
Source note: This article includes information reported by Axios.
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